Mumbai: The rupee on Tuesday declined by 10 paise to 75.88 against the US dollar as muted domestic equities and persistent foreign fund outflows weighed on the local unit.
At the interbank foreign exchange market, the local currency opened at 75.94 against the greenback. During the day, the local unit witnessed an intra-day low of 75.95 and a high of 75.83 against the US dollar.
In the previous session, the rupee had settled at 75.78 against the greenback.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.01 per cent down at 96.30.
Brent crude futures, the global oil benchmark, advanced 0.35 per cent to USD 74.13 per barrel.
On the domestic equity market front, the BSE Sensex ended 166.33 points or 0.29 per cent lower at 58,117.09 while the broader NSE Nifty fell 43.35 points or 0.25 per cent to 17,324.90.
Foreign institutional investors remained net sellers in the capital market on Monday, as they offloaded shares worth Rs 2,743.44 crore, according to the exchange data.
On the domestic macroeconomic front, the wholesale price-based inflation surged to more than a decade high of 14.23 per cent in November, mainly due to hardening of prices of mineral oils, basic metals, crude petroleum and natural gas.